German history over the past 125 years has been turbulent. Marked by two world wars, revolutions and major regime changes, as well as a hyperinflation and three currency reforms, expropriations and territorial divisions, it provides unique insights into the role of country-specific shocks in...

The idea of higher wealth taxes to finance the mounting public debt in the wake of the financial crises is gaining ground in several OECD countries. We evaluate the revenue and distributional effects of a one-time capital levy on personal net wealth that is currently on the German political...

Die Wiederherstellung der Vermögensteuer gehört zum Standardrepertoire linker Parteien. Damit soll eine vermeintliche Gerechtigkeitslücke geschlossen werden. Die Vermögensteuer ist jedoch weder ein gerechtes, noch ein effizientes Instrument der Steuer- und Verteilungspolitik.